Newbridge Capital Wins Control
Of Shenzhen Development Bank

After a tumultuous two-year courtship, Newbridge Capital Ltd. finally sealed a deal to retake control of China's Shenzhen Development Bank Co., according to people knowledgeable about the development.

Over the weekend, these people said, the two sides signed a definitive agreement under which four entities belonging to the Shenzhen government agreed to transfer their 18% stake in the listed bank to Newbridge.